CBS Radio

Posted on April 8, 2013 by Sarah Shelton

by Sarah Shelton

1515 Broadway
New York, NY 10036
(212) 846-3939
www.cbsradio.com

About CBS Radio

CBS Radio, a division of the television and radio company CBS Corporation, is the third largest radio station owner and operator in America with 127 broadcast stations in 28 major markets across the country under its control, and over 70 million listeners tuning in weekly.^[1] Its flagship broadcast formats are sports, news and talk, and CBS Radio continues to be the largest broadcaster of play-by-play coverage and discussion of the major sports franchises in America, including the MLB, NFL, NBA, and NHL.^[2] CBS Radio also offers local digital media in over two dozen markets in the US, with local traffic, news, weather as well as other recorded content for on demand access on the Internet and custom mobile apps.^[3] CBS Radio’s particular attention to on-air personalities has made it a continual standout in the increasing switch to automated and syndicated radio programming for broadcast radio today.^[4]

Key People

Dan Mason

Dan Mason was named president and CEO of CBS Radio in 2012 and oversees all stations as well as the day-to-day operations of the subsidiary. He reports directly to CBS Corporation CEO, Leslie Moonves. Mason has been with CBS Radio for almost two decades, previously serving as an advisor and consultant before stepping up for the role of CEO. He has an extensive background in radio programming and his success with the strategic growth of CBS stations has been reflected in ratings from listeners of all ages.^[5]

Kevin Weatherly

Kevin Weatherly is the Senior Vice President of Programming at CBS Radio, the Program Director of the top stations in the Los Angeles market, and also Kevin of Kevin and Bean, the flagship personalities of LA’s KROQ FM. He has been with CBS Radio for over two decades, helping develop audiences for fledgling bands through strategic programming and monumental development for the music industry and radio relationship. He has received accolades and awards from virtually every music publication, including Rolling Stone Magazine, Billboard, Entertainment Weekly and more.^[6]

A Brief History

In 1927, talent agent Arthur Jodson created the radio network United Independent Broadcasters in order to showcase the artists that he was working with and as an act of defiance to his employer for refusing to include his roster in their broadcasts. He named the new venture United Independent Broadcasters, but was soon merged with the Columbia Phonograph Company after financial struggles threatened to bury the station before it had even begun. Under the new name Columbia Phonograph Broadcasting Company, the station was launched in September 1927 and quickly grew to earn affiliates and employees, enough to catch the eye of investor William Paley, who bought the station in January 1929 rebranded as Columbia Broadcasting System (CBS). The station continued to grow by embracing advertising, and became a frontrunner in national radio. The company also expanded with ventures in television and film, putting CBS on the map as one of the top media companies in the world. After being outbid for the rights to NFL Broadcast in 1993 and under new leadership, CBS was sold to Westinghouse Corporation for $5.4 billion and put under the control of Viacom. In 2005 with the economic downturn, the television and film divisions of CBS were spun off under Viacom to improve stock market performance and the radio sector along with Infinity Broadcasting, a division of Viacom, were merged and rebranded as the new CBS Radio.^[7]

Timeline of Recent Events

On January 2, 2013, CBS Radio launched the largest major market 24 hour sports stations featuring high profile personalities, player and coach interviews, national game coverage and more. This is an effort to condense the 10 million listeners that tune in weekly to over 100 CBS affiliate stations for sports programming, and is meant to compete with rival ESPN Radio.^[8]

On January 3, 2013, CBS streamed Bon Jovi’s Tampa concert on Radio.com, the first live event streaming venture for the company. This is meant to rival the live streaming features of iHeartRadio, currently the frontrunner in online radio streaming and app-based radio services, and will lead to many more given the success. A first attempt in December 2012 was postponed due to a major storm affecting the East Coast.^[9]

On February 7, 2013, Kevin Weatherly announced a renewal of his contract with CBS Radio, after more than 20 years of unparalleled contribution to the music industry and radio programming today. An on air personality himself on KROQ FM as well as a main contributor to radio’s second largest market in the nation, Los Angeles, Kevin is excited to continue to use his skills and expertise to benefit CBS Radio.^[10]

The pioneering program CBS World News Roundup celebrated its 75th anniversary on March 13, 2013. It is the longest running newscast in history and provided a benchmark from which modern newscasts would be modeled. News programming was the capstone of CBS Radio programming in the 1950s and 1960s, when Americans turned to radio for entertainment and realtime war coverage. Legendary reporters such as Robert Trout and Edward R. Murrow got their start and made their mark on this program.^[11]

Financials

On March 27, 2013 CBS reported fiscal year-end results: revenue is up 2% to $3.7 billion and says that revenues from non-advertising sources is growing even faster than those from advertising.^[12]

As a venture of CBS Corporation, the stock price of CBS Radio is dependent on the overall stock performance of all areas of the company in the market. As of April 5, 2013, CBS Corporation stocks are at 45.20 a share, with over 8 million shares on the market. The stock prices tend to fluctuate and rise around the most popular sports seasons, but typically stick around 45.00 a share.^[13]

References
1. http://cbsradio.com
2. http://www.cbsradio.com/broadcast
3. http://www.cbsradio.com/local-digital
4. http://www.cbsradio.com/broadcast
5. http://www.cbsradio.com/executives?bio=dan-mason
6. http://www.cbsradio.com/programming?bio=kevin-weatherly
7. http://www.museum.tv/eotvsection.php?entrycode=columbiabroa
8. http://www.cbspressexpress.com/cbs-sports-radio/releases/view?id=34174
9. http://insideradio.com/article.asp?id=2623795#.UWHZt1vwJBo
10. http://www.cbspressexpress.com/cbs-radio/releases/view?id=34527
11. http://www.cbsnews.com/8301-201_162-57573836/reporting-on-history-cbs-world-news-roundup-marks-75-years/
12. http://insideradio.com/article.asp?id=2617560#.UWHZwFvwJBo
13. https://www.google.com/search?q=cbs+stock&aq=f&oq=cbs+stock&aqs=chrome.0.57j0l2j60j0j62.1484&sourceid=chrome&ie=UTF-8

Entercom

Posted on September 18, 2012 by abrayas

by Alina Rayas

Photo Courtesy of logos.wika.com [1]

About Entercom :

Entercom is one of the five largest radio broadcasting companies in the United States, with 100 stations in 23 markets, including Seattle, Boston,San Francisco,Portland,Kansas City, Denver,and Sacramento.[2]

Map of All Entercom’s Radio Stations
Photo Courtesy of Entercom [3]

(click here for a list of all Entercom radio stations)[4}

Brief History:

Joseph Field
Founder of Entercom
Photo Courtesy of The Now Explosion[5]

In 1968, Entercom previously known as Entertainment Communications Inc was founded by lawyer Joseph Field. He quit law and purchased three radio stations . He believed that FM radio had the potential to grow and would surpass the popularity of AM radio. It was through his vision the company grew and in 1973 bought a radio station in Seattle, the first in the top 50 market. In 1980 Field expanded and began redesigning content and formats on its stations to attract larger audiences.[6]

In the early 1990’s, Entercom expanded due to less regulations, the Telecommunications Act of 1996, and a trade deal with Viacom. Entercom became the eighth largest radio broadcast company and the largest in the northwest with eight stations in Seattle and three in Portland.[6]

In 1998 and 1999 Entercom purchased radio stations in Boston, Sacramento ,Kansas City, and Portland. In 1999 Entercom acquired the Sinclair Broadcasting Group for $824.5 million with 46 radio stations in nine markets. Entercom now owned 88 radio stations in 17 markets becoming the fifth largest radio broadcasting company in the US. By 2001 Entercom had acquired 101 stations in 19 markets and brought in $333 million in revenues. Their major markets are Boston, Portland, Denver, Sacramento, and Seattle.[6]

Executive Officers:

Entercom Executives
Click on Photo to learn more
Photo Courtesy of Entercom[7]

Financials:

On Oct 26, 2012 Entercom released its financial results for the third quarter. The company has increased their net revenues for the quarter by 2% or 102.3 million. The company’s EBITDA grew 26% to $33.5 million. However the net income per share decreased 7% to $0.27. Entercom also managed to decrease station expenses drastically 9% or 63.6 million. Although the company’s results show increasing growth, President and CEO, David Field has his mind set on the next quarter. “Fourth quarter pacings look solid and we expect another quarter of solid growth in EBITDA.”[8]

Photo Courtesy of Google Finance [9]

Photo Courtesy of Google Finance[9]

(click here to read full financial data report)[10]

Recent News:

December 2012

Entercom’s New Website Layout
Photo Courtesy of Entercom[11]

12/4/12 – Introducing Entercom’s website makeover, the new website has many new features but its most notable is the incorporation of social media. The homepage has a live Twitter feed directly from all Entercom’s stations. The new layout also makes it easier for visitors to follow the company making Entercom more interactive and user-friendly. Browse through alphabetical links to the stations, buttons to stations apps, and social media buttons.[12]

WAAF’s Rise Up Against Hunger
Click Photo to Donate
Photo Courtesy of radioinfo.com[13]

12/4/12 – On December 4- 6^th 97.7/107.3 WAAF, radio stations owned by Entercom hosted an event named “WAAF’s Rise Up Against Hunger” the purpose of the event was to help raise money for multiple food banks in the Boston, Worcester, and New Hampshire areas. The event featured two radio personalities LB and Spanz who lived on an elevated boom crane for three days. In the past the station has hosted a series of outrageous stunts to encourage listeners to donate to local food banks.[14]

November 2012

Volunteers and Ronald Mcdonald work at 5th Annual “Light the House Radiothon” [15]
Photo Courtesy of KOSI-FM

11/7/12 – Denver radio station KOSI-FM, one of Entercom radio stations, encouraged its listeners to participate in the 5th Annual “Light the House Radiothon”. The fundraising event took place November 13 between 6 am and 6 pm. The donations from the radiothon went to patients at the Rocky Mountain Hospital for Children and family members who stay at The Ronald McDonald House. KOSI listeners had the opportunity to call the station to make donations and pledges while be attended by celebrity guests. Many local businesses also participated by writing checks to the hospital and charity.[16]

11/2/12– David Field, President and CEO of Entercom spoke on November 9, 2012 at the Wells Fargo Technology, Media and Telecom Conference along with Entercom’s Executive VP of Operations and CFO, Steve Fisher. The event was audio streamed on the Entercom website and a podcast version was available for ten days after the conference.[17]

(click here to watch a previous speech by CEO David Field)[18]

Jack Donlevie
General Counsel and Executive Vice President of Entercom
Photo Courtesy of Radioink.com[19]

11/1/12 – Jack Donlevie will retire from Entercom in 2015. Donlevie the General Counsel and Executive Vice President will begin scaling back starting in January of 2013 by relinquishing his role as General Counsel. Entercom CEO David Field credits Donlevie with the company’s success and commends him for his dedication and commitment for his 28 years of service to Entercom. Entercom’s Vice President and Corporate Counsel, Andrew Sutor, will succeed Donlevie as General Counsel in January 2013.[20]

October 2012

10/19/12 – KEZW Studio 1430 AM in Denver, Co is the largest radio station in the US to be powered with solar energy. Entercom Denver and Studio 1430 AM have made history by installing 40 solar panels shifting toward energy efficiency by using the power of renewable energy. This latest project supports Entercoms’s environmental 1Thing initiative for improving our world. This move has already dropped the station’s monthly energy costs by 80%.[21}

Studio 1430 Solar Panels [21]
Photo Courtesy of Entecom

10/2/12 – Over 30 Entercom employees from the corporate headquarters located in Philadelphia’s Bala Cynwyd, dedicated their time to reducing the companies carbon footprint. Employees planted 236 trees at Lower Merion Township’s Rolling Hill Park in Gladwyne in order to neutralize its carbon footprint emitted throughout the year. This environmental conscious company received input about what trees would suit the area and planting the trees in areas with gap or mature trees to benefit the park.[22]

September 2012

9/21/2012 – The National Association of Broadcasters Marconi Radio Awards held in Dallas awarded WEEI Sports Radio with the honor of Sports Station of the Year. This prestigious award recognized WEEI radio for its extraordinary on-air personalities and dedication to excellence. Entercom’s Jason Wolfe, vice president of programming and operations of Entercom Boston was elated to share the honor with WEEI Sports Radio.[23]

Taylor Swift Album Red [24]
Photo Courtesy of Big Machine Label Group

9/20/2012 – Big Machine Label Group has joined Entercom’s broadcast team in a bold move. Big Machine artists will now be able to partake in revenues associated with Entercom’s vast market. Entercom is hoping to build a new business model with the label industry and its band of artists. Big Machine will begin grow its digital business and its community of artists will benefit from Entecom’s terrestrial royalties. Top artists include Taylor Swift and Tim McGraw.[25]

ESPN Radio logo [26]
Photo Courtesy of logos.wikia.com

9/18/2012 – Entercom, ESPN radio, and Boston’s WEII 850 AM have teamed up together to provide top national sports talk and some of the finest play by play available. Highlights will include NBA, Major League Baseball, and college football and basketball’s latest. Dubbed “ESPN on WEII” listeners can access live audio stream through ESPNBoston.com and get the latest ESPN video content.[27]

9/12/2012 – Entercom has chosen WO Traffic, a part of WideOrbit Inc. to run all of its radio stations. This market includes over 100 of its stations throughout the US that covers 23 markets. WO Traffic will customize its product to serve Entercom with more effective and efficient tools.[28]

August 2012

Ric Bucher [29]
Co-host of The Drive
Photo Courtesy of All Access

8/29/2012 – San Francisco radio station, KGMZ-FM, owned by Entercom , signed ESPN analyst Ric Bucher (@RicBucher) to co-host the afternoon weekday show The Drive from 3-7pm. He will work alongside current host Brandon Tierney.(@BrandonTierney) Bucher’s enthusiasm is evident when he stated that signing on will “ feel like I am coming home.” He has signed on to a deal that will include multiple years at the station.[30]

Click to Listen Live [31]
Photo Courtesy of WRUF-FM

8/28/2012 – Entercom announced a seven year partnership with the University of Florida’s College of Journalism and Communications radio stations WRUF-AM and WRUF-FM. The partnership between Entercom and the UF’s College of Journalism and Communications creates a great opportunity for Entercom to increase its sale profile market while providing UF’s Journalism students with experience in multiple daily activities involved in Entercom’s local radio station.[32]

Sources:

[1] Entercom logo http://logos.wikia.com/wiki/Entercom_Communications

[2][7] Entercom About Us Page and Executive Profile Image http://www.entercom.com/about-us

[3] Entercom Radio Station Map Image http://www.entercom.com/contact

[4] Entercom Radio Station List http://www.entercom.com/radio-stations

[5] Image of Joseph Field http://thenowexplosion.com/

[6] History of Entercom http://www.fundinguniverse.com/company-histories/entercom-communications-corporation-history/

[8] Entercom Financials http://finance.yahoo.com/news/entercom-communications-corp-reports-third-115500443.html

[9] Google Finance Graphs http://www.google.com/finance?q=NYSE%3AETM&fstype=ii&ei=Y6PBUMCvBYPL0QGqxgE

[10] Financial Data Report PDF http://www.entercom.com/docs/ETM_financial_data_tables_Q3_12.pdf

[11] Image of New Entercom Wesite http://www.entercom.com/

[12] New Website Layout for Entercom http://www.radioink.com/article.asp?id=2585453